Organizations employ strategic planning as a way to move toward their desired future status (End Game).
It is the process of developing and implementing plans to reach goals and objectives. Strategic planning, more than anything else, is what gives direction to an organization.
Obtaining buy-in from all relevant parties is essential for successful strategic plan implementation. Key employees from all areas of the business should be included.
Communicating the strategic plan to all employees is an important critical step. Challenging various departments to develop their own supporting tactical plans with specific objectives that focus on supporting the overall strategic plan of the company is the final piece.
Accountability for execution is the glue that holds the plan together.
Avoid the Following Ten Most Common Mistakes:
- Taking a Dart Board approach that generates numerous initiatives but no means for implementation
- Failure to involve employees form all levels of the organization
- Developing vision, mission and value statements but no real actionable foresight as to what the business needs to look like 5 to 7 years into the future
- Going on a weekend retreat where everybody drinks the same koolaid but little gets done that is actionable
- Failing to complete an effective roll out process
- Violating the "people-support-what-they-help-create" premise. The "End Game" should be reviewed and consensus of direction should be reached by the strategy team and the CEO-0wnership
- Conducting business as usual after strategic planning with no sense of urgency about the new strategic focus
- Failing to make the tough choices and holding people accountable
- Lacking specific Key Performance Indicators (KPIs) and measuring only what's easy, not what's important to the success of the strategic plan
- Seeing the planning document as an end in itself and then letting it collect dust
In many cases, a well thought out strategic plan is developed that has the potential to substantially improve a company's performance, but little thought is given to implementing, execution and accountability for the success of the plan.
Three Keys to Successful Strategic Planning that insures that company behavior really changes as a result of the strategic planning process:
1. Specific real-world objectives must be set. These could be as simple as implementing a new pricing model, or as far-reaching as starting up a new Greenfield operation outside of your current geographical market area.
2. The objectives should be specific so that there is no ambiguity about what is required.(Example) Ideally the objective should not be to "consider becoming "Employer of Choice" (EOC), but should be to become EOC by recognizing specific initiatives required to succeed by a specific date. Exceptions will of course exist if there is information that must still be developed in order to finalize a specific objective.
3. Expected timing and personnel accountability should be created throughout the action planning for each objective. Ideally there should be one individual who is accountable to company management for reaching each core initiative.
Strategic planning creates a team culture that is necessary for success. Working together effectively is not automatic. It takes a specific effort and the development of a culture that is supported by executive management. Shared experiences create unity and value. Knowledge transfer is essential for an organization to grow.
Without knowledge transfer and the sharing of the planning experience it is difficult for the group to share the vision and work toward common goals.
Rick Johnson, expert speaker, wholesale distribution's "Leadership Strategist", founder of CEO Strategist, LLC a firm that helps clients create and maintain competitive advantage. Need a speaker for your next event, E-mail rick@ceostrategist.com. Don't forget to check out the Lead Wolf Series that can help you put more profit into your business. www.ceostrategist.com 
